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For me personally I know it's way more than $75k but less than $200k. I have expensive hobbies and like to to travel without blowing my savings.

by base698 13y ago

sliverstorm 13y ago
Of course expensive hobbies require more money. However the point of that article is (vaguely and generally across the people they studied) your expensive hobbies and traveling do not increase your happiness as much as the pursuit of the extra money decreases it. In other words, you get some combination of diminishing returns on happiness per dollar, and increasing cost of happiness per dollar. $75k is the proposed sweet-spot, where happiness gained per dollar spent is still high and happiness lost per dollar earned is still low to moderate.
- kazagistar 13y ago
  The study says no such thing. It only makes claims about averages, not about individuals, just like every other study.
  - sliverstorm 13y ago
    Right, the study does not say exactly those things about individuals; I'm loosely extending those conclusions to the individual poster, to help my parent understand what the study means and why it suggests $75k is more happy than $200k. After all, it is not immediately obvious why $200k wouldn't be more happy than $75k- isn't $200k more money? Doesn't more money always make you happier?
- base698 13y ago
  To put it another way, for me, I am way less happy making $75K than I am now. That's even considering I have to do more to get the extra income. The way I read the original article is that most people pursue things like luxury goods, houses, and cars which don't increase your happiness. If you keep your standard of living low, but income high, you can do more traveling, use the money to spend time on your hobbies or with your family.
  - sliverstorm 13y ago
    I disagree a bit on houses not increasing happiness. I enjoy owning my house much better than renting.

For me personally I know it's way more than $75k but less than $200k. I have expensive hobbies and like to to travel without blowing my savings.

by base698 13y ago

For me personally I know it's way more than $75k but less than $200k. I have expensive hobbies and like to to travel without blowing my savings.

sliverstorm 13y ago

Of course expensive hobbies require more money. However the point of that article is (vaguely and generally across the people they studied) your expensive hobbies and traveling do not increase your happiness as much as the pursuit of the extra money decreases it. In other words, you get some combination of diminishing returns on happiness per dollar, and increasing cost of happiness per dollar. $75k is the proposed sweet-spot, where happiness gained per dollar spent is still high and happiness lost per dollar earned is still low to moderate.

kazagistar 13y ago
The study says no such thing. It only makes claims about averages, not about individuals, just like every other study.
- sliverstorm 13y ago
  Right, the study does not say exactly those things about individuals; I'm loosely extending those conclusions to the individual poster, to help my parent understand what the study means and why it suggests $75k is more happy than $200k. After all, it is not immediately obvious why $200k wouldn't be more happy than $75k- isn't $200k more money? Doesn't more money always make you happier?
base698 13y ago
To put it another way, for me, I am way less happy making $75K than I am now. That's even considering I have to do more to get the extra income. The way I read the original article is that most people pursue things like luxury goods, houses, and cars which don't increase your happiness. If you keep your standard of living low, but income high, you can do more traveling, use the money to spend time on your hobbies or with your family.
- sliverstorm 13y ago
  I disagree a bit on houses not increasing happiness. I enjoy owning my house much better than renting.